ISRAEL: WORKERS DEMONSTRATE AGAINST DEVALUATION MEASURES OUTSIDE TRADE UNIONS BUILDING.

Record ID: 399000

  • Title: ISRAEL: WORKERS DEMONSTRATE AGAINST DEVALUATION MEASURES OUTSIDE TRADE UNIONS BUILDING.
  • Date: 11th November 1974
  • Summary: 1. GV ZOOM IN on demonstrators out-side Histradut building in com-pound area 0.03 2. SV Nameplates on wall 0.06 3. SV PAN Demonstrators in forecourt of Histradut 0.13 4. SV Mr. Abrahamouitch speaking from window PAN to crowd of demonstrators with one shouting then all cheering (3 shots) 0.40 5. SCU Policeman 0.42 6. SV Demonstrator
  • Embargoed: 26th November 1974 12:00
  • Keywords:
  • Location: Tel Aviv, Israel
  • Country: Israel
  • Reuters ID: LVA6DXI6QJTFPLO2F5NMLGLL8MMQ
  • Story Text: Hundred of shocked workers demonstrated outside the Histradut -the trade unions headquarter building - in Tel Aviv on Sunday (10 November), against the Government's decision to devalue the country's currency by 43 per cent, and other economic measures.

    About four hundred people gathered outside the building shouting demands that the unions support their wage demands. Several forced their way into the building before officials calmed them down.

    Under the new economic measures, the Israeli Government has asked the trade unions to forego their cost-of-living increases. The measures were announced on Saturday night after a six-hour emergency Cabinet meeting.

    The decision to devalue by almost fifty per cent sent prices - already high because of inflation - soaring, and new taxes made the effect of price increases immediate. The Government is also restricting a large range of imports for six months, and halting a great deal of construction works.

    Special police guards were placed on banks which remained closed for the day to work out accounting problems. Sunday is a normal working day in Israel.

    The measures doubled the price of bread and tripled the price of sugar. Many West Bank flour shops were closed and only some bakeries opened for business.

    Rumours of an impending devaluation had been current for some months. They increased during the past few weeks, and housewives and speculators alike began buying as many goods as they could. Sugar, oil and imported goods, like television sets and washing machines were machines were snapped up, and shelves in supermarkets left empty.
  • Copyright Holder: REUTERS
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